Evening star. [volume] (Washington, D.C.) 1854-1972, 1887-04-28

THE NAY DEAL BROKEN AND THE CORNER RECEIVES
A SHOCK.

THE NAY DEAL BROKEN AND THE CORNER RECEIVES
SHOCK
telegram 20 the New York Times nom CHI
cago last evening. says: The clique in wheat gave
the crowd glimpse Of their hand to-day, which
the latter seized upon with an avidity that cast
every shred OF the c,ique's erStwhile overwcening
lnnuence 10 the Winds and made the DAY one OF
sre. excitement Wild llustustlons ana heavy
were tame, with May wheat nj s4s cents
ana ana June at TO OF a cent discount
10 De one OF moderate trading and eager
watching. The entrance into the pit OF one OF the
most prominent OF the clique brokers As seller OF
May wheat changed all. The crowd listened 10
hear him make one or two Offers, and then stimuli
taneousiy rush 10 sell made by the tailers,
big and little and prices broke under the cents
IN less than nve minutes The June opfiop was
lett Tor the rst time In many weeks AZ its legiti-
mate premium There was n big and active trade
lions were quick aud wide. When the futures were
seen 10 be once more In a natural condition as re
spectators woke up from their lethargy. Outside
orders were liberal
In the afternoon the excitement was even
greater. The Lnai close WAS at bottom figures of
The day, With June at a premium oI cent and
July premium above June. The corridors were
fun OF brokers discussing the situation until a late
hour. Every sort OF rImor VAS anosL The weight
OF opinion however, was Enthusiastically hat n
the corner was not broken IL had received shock
which had destroyed great dead OF the prestige
or its operators. All day long the clique brokers
were open and heavy sellers OF Man wheat The
crown rear OF the SteriOuS lliuup-
and sold them all they wanted. IL was said that
heavy sales OF May by certain commission houses
Monday and Tuesday were Tor the clique account
1.-The way they sold that May and the way they
sold that June out soon as they bought A. said
a well-known member who watched the deal an
day, Hooked very much as though they found it
hard 70 raise the money 10 carry the wheat. or
were frightened at the prospects of big receipts
There appears no doubt OF the latter. The agent
OF the Burlington road says his road could handle
LOCO, 600 bushels a week were storage-room avail.
able. The arrival OF large fleet to-day aud the
absence Of pressing inquiry broke vessel rates 70
cents 10 Buffalo A large quantity OF corn WAS
again engaged 10 be loaded out and the space freed
Will be filled with wheat
Commission houses were Jubilant over the
change in the situation. They said that whether
clique existed or not the days Developments had
removed much OF the fear IL inspir,d and their
customers were again returning 20 the market.
The gosspS were to-day counting up the losses
thus Tar In the wheat deal. They estimated one
sum OF $50. 600, seven or eight others exceeding
1900 each, and whole host OF ,llcr ones the
least of which was several hundred dollars. 70
would be inyidious 10 mention names when the
losers pay up Is the case With all those referred
TO- IL has been a bitter lesson IN the art OF
straddlng between the Different markets which
had been almost a uniformly successful operation
for the last three years. kcrshaws purchases OF
June wheat turned the tide THIS liloralng He
took hold at 81 cents and iugat up TO s:3S cents
his purchases being estimated 10 exceed 1000 uoo
bushels. lie Is reported 10 have taken vessel
room for Ss0, 600 busneis wheat TO 60 from NIL
waukee, and remarked that he had orders Tor
800 900 bushels more, which could be iilled AZ the
room were obtainau,c.